Charles Hoskinson recently discussed a proposal for a decentralized sovereign wealth fund for Cardano in a livestream. He suggested actively managing the network's treasury, diversifying beyond ADA, and expanding it into a multi-asset portfolio worth at least a billion dollars. Hoskinson proposed converting a portion of ADA into stablecoins and Bitcoin to enhance the network's DeFi capabilities. He highlighted the need to address Cardano's low dollar liquidity compared to other networks like Ethereum and Solana. The proposed fund would operate similarly to trillion-dollar sovereign wealth funds, generating yield from various sources to grow the treasury. Governance and voting mechanisms are still under discussion within the Cardano community. Despite concerns about market impact, Hoskinson emphasized the network's liquidity and potential for growth through a multi-chain strategy. The proposal aims to elevate Cardano to a sovereign entity status in the blockchain space. Read more AI-generated news on: https://app.chaingpt.org/news

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